Apple hits the $1T milestone

Apple hits the $1T milestone

Apple is the first publicly-owned company to reach a $1 trillion market capitalization.

The Forbes list, which measures the value of a company's brand by looking at its financial numbers, has ranked Apple as the most valuable brand for the last eight years in a row. In recent years, Apple has been working to spread its cult-like following to newer devices like smart watches, cordless headphones and smart home speakers. Consequently, Apple became the first U.S. company with a market cap of over $1 trillion.

Apple said it expects revenue of $60 billion to $62 billion for the fiscal fourth quarter that ends in September 30. Here's a look at the so-calls "Fangs", tech firms that are growing at a quick pace; Amazon, is trailing at $885 billion, Google is at $850 billion, Facebook is at $503 billion, and Netflix is at $148 billion.

In its report on Tuesday, Apple sales led by the iPhone X, which sells for about $1,000, pushed quarterly results far beyond Wall Street targets, with subscriptions from App Store, Apple Music and iCloud services bolstering business.

But think for a moment about how Apple got so big.

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The company beat Wall Street expectations on Wednesday with $53.3 billion in third-quarter revenue, up 17 percent from the same quarter past year.

There were concerns why Alphabet may not win this race (it did not), according to an article published on, well, the Nasdaq, where it is traded.

Apple has managed to shine despite bruises to its image that included being accused of keeping young people addicted to smartphones, slowing performance of older iPhones to motivate upgrades and sidestepping taxes by nestling cash in offshore havens. But, it's likely just a stepping stone to even more gains. And it has a vote of confidence from some analysts.

Apple isn't safely ahead of everyone else yet, Amazon is now valued at around 900 billion and is closing in on a trillion steadily as well. As we pointed out yesterday, the valuation itself doesn't mean much, but it goes to show just how drastic of a turnaround Apple was able to make just a couple of decades after being on the brink of going under.

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